Sonoco will increase prices for its paper-based engineered carriers (tubes and cores) and related specialty products by a minimum of 5 percent in the United States and Canada, effective for shipments on or after November 1, 2004, it was announced today by Jack Sanders, corporate vice president and general manager, Industrial Products -- North America.
"The uncoated recycled paperboard industry has recently announced a price increase of $30 to $40 per ton. In addition to this increase in paperboard costs, our tube and converted products operations have also incurred increases in other non-material areas, particularly in energy-related costs. Although Sonoco continues to aggressively pursue productivity improvements, we have been unable to fully offset these continuing increases. It is therefore necessary that we adjust our prices," said Sanders.
